Group-Wide Supervision Notice - Global Indemnity Group
NOTICE
Pursuant to section 1406b(c) of Article XIV of The Insurance Company Law of 1921, as amended by the act of July 5, 2012 (P. L. 1111, No. 136) (Act 136), the Pennsylvania Insurance Department, in cooperation with other supervisors, may determine that it is the appropriate group-wide supervisor for an international insurance group with substantial operations concentrated in Pennsylvania or in insurance operations conducted by subsidiary insurance companies domiciled in Pennsylvania, where the ultimate controlling person is domiciled outside Pennsylvania. 40 P.S. § 991.1406b(c).
In cooperation with other supervisory regulators, the Department has determined that it is the appropriate group-wide supervisor for the Global Indemnity Group of Companies (“Global Group”). The ultimate controlling person of Global Group is Fox Paine International GP, Ltd., the Cayman exempted holding company of Global Group. Global Group has substantial operations in Pennsylvania. Additionally, Pennsylvania is the state of domicile for United National Insurance Company (NAIC No. 13064), the lead company in the U.S. insurance company pooling arrangement, which includes the following Pennsylvania domestic companies:
- Penn-America Insurance Company (NAIC No. 32859)
- Penn-Star Insurance Company (NAIC No. 10673)
Accordingly, this Notice shall serve as publication by the Department pursuant to 40 P.S. §991.1406b(d) (requiring the Department to publish in the Pennsylvania Bulletin and on its Internet website the identity of international insurance groups that it has determined are subject to its group-wide supervision).
Questions regarding this notice should be directed to Stephen J. Johnson, Deputy Insurance Commissioner, Insurance Department, 1345 Strawberry Square, Harrisburg, PA 17120, or by fax to (717) 787-8557.
MICHAEL F. CONSEDINE,
Insurance Commissioner